New housing prices hit record highs in the Vancouver area

In spite of several measures to calm the rise in the real estate market in the Vancouver area, new data again darken the picture.

The New Housing Price Index for June 2017, released this week by Statistics Canada, shows that they have increased by 6.2% in 12 months.

“The last time the [ New Home Price Index ] rose more than 6.2%, it was June 2010,” Statistics Canada analyst Rohit Verma said.

He said that the information comes from monthly surveys of construction companies and their contractors, which however exclude new condominiums.

The agency has data going back to 1981.

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